Business

Philippine Ports Authority General Manager Jay Daniel Santiago Photo © http://www.portcalls.com/

PH ports posted profits in 2016 despite slide of the peso

MANILA—The Philippine Ports Authority (PPA), a government owned corporation, posted a 17% hike in net profit in the 11-month period of 2016 anchored on the strong financial performance of the agency during the last five months proving that the state, not only private firms, could run profitable enterprises. The accumulated amount was also significantly higher compared to the target for […]

by Geneia Verdejo· · 0 comments · Business, News
Manila South Harbor Photo  © worldmaritimenews.com

ICTSI Manila hits 2M TEU milestone

THE Manila International Container Terminal (MICT), International Container Terminal Services, Inc.’s (ICTSI) flagship operation and the Philippines’ largest, most technologically advanced container terminal, capped 2016 with a milestone as it reached its first year-to-date two millionth TEU move last December.  Nominated among the world’s top container terminals for several years, the MICT has an annual capacity of 2.75 million twenty-foot […]

by Geneia Verdejo· · 0 comments · Business
Manila South Harbor Photo  © worldmaritimenews.com

Philippine ports to remain open on X-mas and New Year

PHILIPPINE ports will remain open Christmas and New Year due to the traditional influx of Christmas cargoes. “Philippine ports, particularly our international gateways, will be in full commercial operations except for a couple of hours on Christmas and New Year’s Day because ships continue to come and go even during holidays,” Philippine Ports Authority General Manager Jay Daniel R. Santiago said […]

by Geneia Verdejo· · 0 comments · Business, News
Philippine President Rodrigo Duterte © Mariana Bazo / Reuters

Duterte tells local tycoons: ‘I owe you nothing,’ opening Philippines to foreign investment

By RT The populist Philippine President Rodrigo Duterte has pledged to open up the economy to foreign businesses to tackle graft and protectionism. “The only way for the deliverance of this country is to remove it from the clutches of the few people who hold the power and money,” Duterte told a news conference. “I do not owe you anything, […]

by Admin· · 0 comments · Business, News
Semirara Mining to develop eco tourism project in closed Panian pit

Semirara Mining to develop eco tourism project in closed Panian pit

THE integrated energy company Semirara Mining and Power Corporation (SMPC) on Monday disclosed that it has started the Panian pit final rehabilitation to “restore its ecological balance,” following the depletion of its coal reserves. “Our goal is to restore the topography of Panian and promote flora and fauna growth in the area. We are still consulting with Department of Energy (DOE) […]

by Geneia Verdejo· · 0 comments · Business, Environment, News
Transportation Secretary Arthur Tugade Photo © http://www.invivalink.com

PH promotes China’s maritime silk road, urges connectivity among Asean ports  

THE Philippines has expressed its intention to be part of the China’s maritime silk road initiative (CMSRI) as it encouraged Association of Southeast Asian Nations–member ports to also join it for greater economic cooperation and connectivity in Southeast Asia. Transport Secretary Arthur P.  Tugade said the Duterte administration already expressed its desire to join CMSRI during President Rodrigo Duterte’s recent China visit. […]

by Geneia Verdejo· · 0 comments · Business, News
Finance Secretary Carlos Dominguez III Photo © Inquirer Business - INQUIRER.net

PH Economic growth on target–Dominguez

FINANCE Secretary Carlos Dominguez III said the third-quarter Gross Domestic Product (GDP) growth of 7.1 percent puts the Duterte administration on target of expanding the economy by at least 7 percent in the short and medium term to generate enough resources for its priority agenda of drastically reducing poverty and creating enough jobs for Filipinos. In a statement, Dominguez said […]

by Geneia Verdejo· · 0 comments · Business, News
© REUTERS/ Iqro Rinaldi

Samsung SOS: Can the Brand Come Back Strong After Note 7 PR Disaster?

By Sputnik News The recall of the self-combusting Galaxy Note 7 smart phone would have been a painful decision executives at Samsung had to make earlier this month. And the timing couldn’t have been more damaging in the run up to the competitive pre-Christmas market. But the affect on profit margins aside, can the brand recover from such a major […]

by Admin· · 0 comments · Business, News
Soft Power: China Stepping Up Its Global Economic Expansion

Soft Power: China Stepping Up Its Global Economic Expansion

By Sputnik News CHINA’S state-owned grain trading company Cofco Corp. has taken full ownership of Dutch grain trader Nidera NV. Cofco acquired 51 percent of Nidera’s stock for $1.2 billion back in 2014 and it has now bought the remaining 49 percent from another Dutch company, Cygne BV. The mutually-beneficial deal brings together two of the world’s major importers and exporters […]

by Admin· · 0 comments · Business, News
AGI to spend more than P150B for two-year expansion programs across PH businesses

AGI to spend more than P150B for two-year expansion programs across PH businesses

MANILA, Philippines, September 29, 2016 – The Alliance Global Group, Inc. (AGI), the investment holding company of tycoon Dr. Andrew L. Tan, is allocating more than P150-billion for this year until 2017 to finance the various expansion plans of its companies. After posting record performance in 2015, Alliance Global remains upbeat over long-term prospects. “We continue to be optimistic about […]

by Admin· · 0 comments · Business, News
Photo © hereisthecity.com

PH’s apt trading and diplomatic policies to trump shaky Asia geopolitics

MANILA, Philippines — The understanding of geopolitics and the appropriate trading and diplomatic policies amid the South China Sea dispute will ensure investor confidence in the Philippines. This was the assessment reached during the Philippines Investment Conference on Tuesday at the New World Hotel in Manila, which gathered local and foreign business leaders, economists and government policy-makers. The conference focused […]

by Admin· · 0 comments · Business, News
Pizza best motivator © Flickr/ Matt

Pizza Proves to Be the Best Motivator – Study

By Sputnik News In the upcoming book “Payoff: the Hidden Logic that Shapes Our Motivations,” behavioral economist Dan Ariely detailed a study showing that pizza motivates workers to increase productivity more effectively than money. Looking for a way to encourage your employees to show better results? The answer might be pizza. In his book, Ariely recounts an experiment conducted at an Intel  semiconductor factory […]

by Admin· · 0 comments · Business, News
Agriculture Secretary Manny Pinol during an earlier talk with DA employees. Photo © http://www.mb.com.ph (Mark Balmores)

PH will soon produce commercial organic chix–DA

AGRICULTURE Secretary Emmanuel “Manny” Piñol said we cannot beat Vietnam and Thailand in food production unless the government gives adequate support to the nation’s farmers. “We cannot compete with Vietnam and Thailand in terms of production if the government does not give adequate support,” he added. Piñol made his views known as he reveals that the country may now start […]

by Rodolfo Andal· · 0 comments · Business, News
DTI Secretary Ramon Lopez Photo © http://www.gonegosyo.net

DTI at risk — PH consumer group

A CONSUMER group expresses fears that newly appointed Department of Trade and Industry Secretary Ramon Lopez is putting the department at risk by appointing officials who are known to be politically hostile to the Duterte administration. Consumer group BIGWAS said Secretary Lopez’ endorsement of former DTI officials who openly campaigned against President Rodrigo Duterte in the last election indicates that […]

by Rodolfo Andal· · 0 comments · Business, News
Photo © dirp4.pids.gov.ph

Road users’ tax fund, underutilized – PH Gov’t Think Tank

FUNDS collected from road users’ tax amounting to billions of peso that were intended for road maintenance and minimize air pollution were underutilized. A study of state-run think tank, Philippine Institute for Development Studies (PIDS), shows that a total of P112.5 billion were deposited to the motor vehicle users’ charge (MVUC) fund, more popularly known as road users’ tax from […]

by Geneia Verdejo· · 0 comments · Business
PAL Photo © cnnphilippines.com

PAL launches affordable global internet hotspot

THE Philippine Airlines (PAL) on Wednesday has launched its own global internet hotspot by introducing a new service innovation “myPAL Roam.” PAL President and Chief Operating Officer Jaime J. Bautista said the newest offering by the country’s flag carrier is made possible through its partnership with Skyroam. He said myPAL Roam is the latest addition to PAL’s service innovations, which […]

by Benjie Vergara· · 0 comments · Business, IT, News
Richard Javad Heydarian © www.ateneo.edu

PH should boost economic ties with China

AFTER winning the arbitration case which favors the Philippines’ rightful claim over the disputed territory, Philippines must exert efforts to enhance its trade relations with China to boost the economic activities. Richard Javad Heydarian, Assistant Professor in International Affairs and Political Science at De La Salle University (DLSU) said the Duterte administration is looking at ways to revive bilateral investment […]

by Geneia Verdejo· · 0 comments · Business, News
Georgia-Philippines Friendship Park © http://georgiatoday.ge

ICTSI’s subsidiary builds Mabuhay Park in Georgia

THE leading Philippine port operator International Container Terminal Services, Inc. (ICTSI) ‘s subsidiary in Georgia, a country at the intersection of eastern Europe and western Asia;  has built the Philippine–Georgia Friendship Park at the Tbilisi  Zoo. The Tbilisi pleasure ground, which is also called Mabuhay park, is funded by Batumi International Container Terminal LLC (BICT), the Georgian subsidiary of ICTSI. […]

by Geneia Verdejo· · 0 comments · Business, News
Chinese President Xi Jinping © REUTERS

Facing Economic Headwinds China’s XI Calls for Reforms

Chinese President Xi Jinping exhorted the country’s Central Leading Group on Financial and Economic Affairs on Monday to “resolutely push forward supply-side structural reform.” President Xi’s sometimes oblique budget statements offered that he considers “supply-side,”” along with structural issues, as the most troublesome of China’s current economic issues, suggesting that by focusing on these issues specifically, the world’s second largest economy can remain fiscally healthy. […]

by Admin· · 0 comments · Business, News
US Pres. Obama © AFP 2016/ Mandel Ngan

TPP Deal to Allow US Set Rules of Global Economy – Obama

US President Barack Obama said that TPP trade deal would allow the United States and its partners, but not other countries, set the rules of the global economy. MOSCOW (Sputnik) — The Trans-Pacific Partnership (TPP) trade deal would allow the United States and its partners, but not other countries, set the rules of the global economy, US President Barack Obama said in an article […]

by Admin· · 0 comments · Business, News
Leaked Papers: White House Resorts to Blackmail in TTIP Trade Negotiations

Leaked Papers: White House Resorts to Blackmail in TTIP Trade Negotiations

The Obama administration has threatened to block all European car exports if they do not accept America’s genetically-modified and hormone-enhanced produce. On Sunday, German newspaper Süddeutsche Zeitung claimed that 240 pages of text from the secret transatlantic trade deal (TTIP) obtained by Greenpeace show the US to be blackmailing the EU to force through the trade deal, despite European objections. Specifically, the United States threatened to block European […]

by Admin· · 0 comments · Business, Health, News
US President Barack Obama © AFP 2016/ Georges Gobet

Outright Fiasco: How the West’s Economic Weapon is Failing to Faze Russia

The US has long relied on financial sanctions as a preferred weapon against its adversaries. However, in Russia’s case, it turned out to be an “outright failure” and the West should admit this. Let’s have a look why. Washington’s favorite economic power tool has been so overused, it’s becoming ineffective and, in some cases, even counterproductive, reads an article in Foreign Affairs, […]

by Admin· · 0 comments · Business, News
Vitaliano Nañagas II © www.pinoyme.com

Philippine anti-graft court sends big-time banker to jail for US junket

  THE Sandiganbayan sentenced the former Development Bank of the Philippines Board Chair Vitaliano Nañagas II to more than a decade of imprisonment after he was found guilty of estafa and violation of Republic Act 3019 ( the Anti-Graft and Corrupt Practices Act of the Philippines). Specifically, Nañagas was given a six to ten year prison term for violating R.A. […]

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More Japanese look to Philippines to hone English skills

By Shinichi Tokuda MORE Japanese are increasingly choosing to study English in the Philippines over the United States or U.K., driven by the lures of cheaper tuition fees and the proximity to home. And corporations are also encouraging staff to study in the Philippines, where English is one of the official languages. Auto parts manufacturer Mitsuba Corp. has sent about […]

by Admin· · 0 comments · Business, News
PDEA chief Arturo Cacdac
©newsinfo.inquirer.net

Nepalese intelligence operatives visit Manila seeking assistance against money laundering

NEPALESE intelligence operatives sought the help of the Philippine Drug Enforcement Agency to improve their anti-drug and money laundering capabilities. The visit came in the heels of recent revelations in the Philippine senate about the possible involvement of the Rizal Commercial Banking Corporation in an US $81 million money laundering scheme. The money was electronically stolen from the Central Bank […]